Bill > SB4

This bill amends existing South Dakota law regarding security deposits for residential rentals, specifically changing the timeline and requirements for landlords when a tenant moves out. Currently, landlords have twenty-one days after a tenancy ends and they receive the tenant's forwarding address to return the security deposit or provide a written explanation for any deductions. This bill proposes to extend that timeframe to forty-five days after the tenancy ends for landlords to provide an itemized accounting of any withheld deposit, but only upon the tenant's request. Landlords are still only allowed to deduct amounts for unpaid rent or other agreed-upon payments, and to cover costs of repairing damage beyond normal wear and tear. If a landlord fails to follow these rules, they could lose their right to keep any part of the deposit, and if they act in bad faith by withholding the deposit or failing to provide the required documentation, they could be liable for punitive damages of up to two hundred dollars.